From my point of view, "what is the best camera" can be interpreted in two ways:
1. What camera produces the best images in varying and difficult conditions? Canon / Nikon
2. What camera produces the best images in ideal/controlled conditions and also tethered? Phase/Hasselblad
Pentax seem to be introducing some kind of hybrid, which will not be able to beat Phase in ideal conditions, and also will not be able to beat 1Dx in harsh conditions. I'm sure there's a segment of consumers that is waiting for it, but I would be very surprised if it turned out to be a "game changer".
The new CMOS sensor does digital output. Pentax should do as well as Phase and Hassy in any third party converter from the quality point of view, provided Pentax can get the heat dissipation issues under control.
I would be very surprised if Pentax with its huge resources and experience cannot put some stellar lenses out there. And there is one thing we all know: As soon as there are buyers, there is supply.
Let's be clear about one thing: Pentax have real MF experience, internal lens design teams, production teams, existing distribution channels, working 35mm camera software that has given them image processing experience, and a very respected name. Oh, and yes they even already have one "tryout" camera out there which has been well received.
These are not lightweights, amateurs or idiots, with a "good enough mentality" like all the Phase groupies here portray them. They are serious business people with staying power, and ability to invest. And if that weren't enough, they have the support of Samsung who know a thing or two about electronics.
I think that Leica has demonstrated quite well that expertise in camera design can rapidly translate into a competitive MF product; there is no reason that Pentax should not be able to put out a lens line if Leica has done so.
Edmund